Simon Johnson celebrates a provision in the financial reform bill as tantamount to a Sherman...

|By:, SA News Editor

Simon Johnson celebrates a provision in the financial reform bill as tantamount to a Sherman Antitrust Act for banks. The Kanjorski Amendment allows federal regulators to limit the scope of big banks and break them up if they pose a “grave risk” to financial stability, but Yves Smith calls it "toothless" and asks, "What is Simon Johnson smoking?"